Nestlé is moving forward with the sale of half of its European water division. Several of the world’s largest private-equity firms are reportedly willing to pay around 5 billion euros for brands including Perrier, San Pellegrino, and Acqua Panna.
Bidding war in full swing
According to the Financial Times, three private equity firms—Clayton, Dubilier & Rice (CD&R), KKR, and PAI Partners—have advanced to the next round of the bidding process. Platinum Equity has also expressed interest, according to sources close to the matter. The sale of a 50% stake would give the water division a total valuation of approximately 5 billion euros.
